Lionsgate has snapped up the rights to the upcoming big foot horror film, Exists. The film premiered at SXSW, and only hours after the movie had concluded, Lionsgate sealed the deal.

The film was co-directed by Eduardo Sanchez, who first came to fame directing The Blair Witch Project. Exists aims to retell the common myth behind Sasquatch, the Hollywood Reporter noted.

Exists tells the story of five friends on a camping weekend in a remote location in East Texas. The group encounters an unknown predator. The predator is described as a stronger, smarter and more terrifying creature than anything seen before.

Deadline reported that Sanchez is no stranger to working on small budgets. The Blair Witch Project was made for under $60,000 and made over $250 million.

The film stars Chris Osborn, Dora Madison Burge, Roger Edwards and Samuel Davis. The creature featured in the film was designed by Spectral Motion.